The Transport Corporation of India (TCI) reported a 20 percent increase in consolidated net profit for the second quarter ended September 30, 2023, at Rs 88 crore.

The revenue from operations increased by 6 percent to Rs 993 crore. Consolidated revenue from activities increased by 6 percent to Rs 1,943 core in the first half of fiscal year 2024. The net profit climbed by 12 percent to Rs 171 crore.

โ€œThe company delivered consistent performance for Q2/H2FY24,” says Vineet Agarwal, Managing Director, TCI.

“Key sectors such as automotive, infrastructure, engineering & consumer goods witnessed decent traction. With the festival season underway, the volume of business has seen an increase in line with expectations.”

TCI has reached an agreement with a Japanese shipyard to build two cellular container vessels for a contract price of over Rs 300 crore. The vessels will be delivered in fiscal year 26.